New Sick Leave Laws to Take Effect July 1

Both the City of Chicago and Cook County have enacted new sick leave ordinances which require employers to provide employees with up to 40 hours of paid sick leave per year. The two ordinances mirror each other with the primary difference being the geographic area covered by the laws.

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A 2017 Manufacturing Outlook

Struggling to find and retain tradespeople? Deciding when the timing is right to replace that 30-year-old machine? Noticing that your technology systems are slowing you down rather than making you more efficient? You’re not alone. Our 2017 manufacturing outlook addresses the biggest issues facing manufacturers this year and offers perspective from a firm that’s been working with numerous manufacturing companies for 45 years.

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Your Accountant’s Hidden Impact on Workplace Culture

Today, many headlines for hiring and retention articles reference “workplace culture”. As competition across all industry sectors is on the rise, companies are realizing that workplace culture plays a significant, although often undetected, role in the success of their business. However, it’s often overlooked as day-to-day operating needs take precedence over building a strong workplace environment. Yet, strengthening workplace culture is not as overwhelming as it may seem. Be sure your company benefits from ways your accounting firm can add value to your company culture.

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An Annual Check-Up for Your Business

We all know we are supposed to have an annual check-up with our doctor to prevent health problems and catch issues early. Of course, whether we do it is another topic. An annual check-up can do the same thing for the financial health of your business and can be simple and straightforward when you know what to do. Evaluate these areas of your business to start your year off right.

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The Pros and Cons of Buying and Leasing Company Cars

Choosing the best option between leasing and buying a company car for your employee means considering tax implications and predicting the use of the car. Careful planning including consideration of when the car will be replaced and how consistent travel will be will help you reach the best decision for your company. Learn more:

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Intrapreneurship: Sustainability for Your Business

Intrapreneurship embodies risk taking and innovation within an established business. When evaluating the sustainability of any organization, one might revisit the business model and consider new business lines that could resist the numerous tugs experienced in the lifecycle of any business.

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What’s Your Story? The Tale Your P & L Tells About Your Business

Every month your accountant creates a profit and loss statement (P & L) for your business and reviews any pertinent information with you. If you are like most business owners, you look at the net income and maybe a few other numbers and file it away. But if that is all you do, you are missing many of the important stories your P & L tells.

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Can Partners Be Employees? Not Likely.

Suppose you’re a partner in a partnership where the agreement requires you to work some of the time for the business. Can you ever be treated as an employee of the partnership for tax purposes instead of as a partner? The lines may become blurry, but the IRS has maintained, at least up until this point, that partners aren’t employees.

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The Truth About What Happens to Account Funds After Death

It’s awkward. And complicated. And emotional. But dealing with what happens to your estate after your death is an unavoidable and essential task. Like many people, you may have consulted an estate attorney to create a trust and will, ensuring that assets pass along to selected family, friends or institutions. However, like many people, you may not realize there is another step to take. A step that, if missed, could mean your wishes are not followed or your beneficiaries pay more taxes or wait longer to have access to their inheritance.

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